G2TT
来源类型Discussion paper
规范类型论文
来源IDDP11028
DP11028 The Dynamics of Inequality
Xavier Gabaix; Benjamin Moll
发表日期2015-12-27
出版年2015
语种英语
摘要The past forty years have seen a rapid rise in top income inequality in the United States. While there is a large number of existing theories of the Pareto tail of the long-run income distributions, almost none of these address the fast rise in top inequality observed in the data. We show that standard theories, which build on a random growth mechanism, generate transition dynamics that are an order of magnitude too slow relative to those observed in the data. We then suggest two parsimonious deviations from the canonical model that can explain such changes: "scale dependence" that may arise from changes in skill prices, and "type dependence," i.e. the presence of some "high-growth types." These deviations are consistent with theories in which the increase in top income inequality is driven by the rise of "superstar" entrepreneurs or managers.
主题Labour Economics ; Monetary Economics and Fluctuations ; Macroeconomics and Growth
关键词Inequality Operator methods Pareto distribution Speed of transition Superstars
URLhttps://cepr.org/publications/dp11028
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/539857
推荐引用方式
GB/T 7714
Xavier Gabaix,Benjamin Moll. DP11028 The Dynamics of Inequality. 2015.
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